Temasek Holdings has facilitated Manipal Health Enterprises in acquiring a five-storey hospital in Mumbai's Andheri for INR 115 crore. The property spans 2.6 acres and features approximately 225,000 square feet of built-up area. This acquisition is part of a broader strategy to enhance Manipal's market presence, following its stake increases in Medica Synergie and AMRI Hospitals.
Singapore's global investment company, Temasek Holdings, has supported Manipal Health Enterprises' acquisition of a five-storey hospital property in Mumbai's western suburb of Andheri for INR 115 crore. The hospital has been constructed on a 2.6-acre land parcel and features nearly 225,000 square feet of built-up area, which includes a lower ground floor, ground floor, and three upper levels. The transaction was formalised through a deed of transfer involving Manipal Health Enterprises and Khubchandani Properties & Investments, along with two other entities: Khubchandani Hospitals and Perfect Realty.
Manipal Health Enterprises has paid stamp duty amounting to INR 27.3 crore for the registration of the deal, which took place earlier this week. The hospital property includes 190 enclosed parking spaces and 201 mechanical stack parking spaces. As part of the transaction, the hospital will receive a permanent 9-metre wide right of way, as well as an additional temporary right of way, also measuring 9 metres wide, as documented on the real estate analytics platform Propstack.
Earlier this year, Temasek acquired an additional 41% stake in Manipal Health Enterprises for approximately USD 2 billion, increasing its total stake to 69%. In February, Temasek sold an 8% stake in the company to Mubadala, Novo Holdings, and CalPERS, while still retaining a majority stake. In April, Manipal Hospitals acquired an 87% stake in Kolkata-based hospital chain Medica Synergie. Prior to that, it had secured an 84% stake in AMRI Hospitals, which is part of the Emami Group, in September.
With the acquisition of Medica Synergie, the hospital chain is set to increase its bed count to over 10,500 from the current 9,500, positioning it as the largest healthcare group in the country, as indicated by company representatives. Inquiries sent to Manipal Health Enterprises remained unanswered until recently.
In recent years, healthcare companies and hospitals in India have been increasingly focused on acquiring properties to expand their operations and enhance their market presence. This trend is being driven by the rising demand for quality healthcare services in urban and semi-urban areas, bolstered by a growing population, heightened health awareness, and improved insurance coverage.
Leading hospital chains, such as Manipal Hospitals, Apollo Hospitals, and Fortis Healthcare, have been investing significantly in strategic locations, acquiring both existing hospitals and new properties for greenfield projects.
In conclusion, the strategic acquisition by Manipal Hospitals underscores the growing trend among healthcare providers in India to expand their footprint. As demand for quality healthcare rises, investments in both existing facilities and new properties are expected to continue, further solidifying their market positions.
Advertisement
Facebook
Whatsapp
